Exit, Voice, and Loyalty Model
Okay kiddo, let me explain the exit, voice, and loyalty model to you in a simple way.
Imagine you have a toy that's not working properly. You have three choices: you can leave the toy, try to fix it yourself, or ask your mom or dad to help you fix it.
The same way we have three options in situations where we're not happy with a product or service. These three choices are called Exit, Voice, and Loyalty.
Exit means leaving a product, service, or company because you're not satisfied with it. For example, if you don't like a toy, you could stop playing with it altogether and choose a different toy instead.
Voice means sharing your feedback and expressing your concerns to someone who can help address the issue. For instance, instead of leaving the toy, you may tell your mom or dad what is wrong with it so that they can try to fix it.
Loyalty means staying with a product, service, or company despite its faults. You might choose to be loyal to a toy even if it's not working correctly because you enjoy playing with it or because you like the brand.
These three options, Exit, Voice, and Loyalty, are useful not only for toys but also for grown-ups in their jobs or choosing which stores to shop in. By using these options, we can make informed decisions and ensure that companies are doing their best to serve us.
Imagine you have a toy that's not working properly. You have three choices: you can leave the toy, try to fix it yourself, or ask your mom or dad to help you fix it.
The same way we have three options in situations where we're not happy with a product or service. These three choices are called Exit, Voice, and Loyalty.
Exit means leaving a product, service, or company because you're not satisfied with it. For example, if you don't like a toy, you could stop playing with it altogether and choose a different toy instead.
Voice means sharing your feedback and expressing your concerns to someone who can help address the issue. For instance, instead of leaving the toy, you may tell your mom or dad what is wrong with it so that they can try to fix it.
Loyalty means staying with a product, service, or company despite its faults. You might choose to be loyal to a toy even if it's not working correctly because you enjoy playing with it or because you like the brand.
These three options, Exit, Voice, and Loyalty, are useful not only for toys but also for grown-ups in their jobs or choosing which stores to shop in. By using these options, we can make informed decisions and ensure that companies are doing their best to serve us.